I am updating my chart a little bit, I adjusted the target. 45k-50k seems more like it before a pull-back. Right now Bitcoin is once again fooling traders by stopping at the most likely resistance. Some side-ways movement ahead of us before we continue higher.
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Fractal-wise the scenario I updated this post with seems valid too. We might get a pull-back already.
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Since we did not retrace in any major way the 45-50k target holds before a pull-back.
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See the updated chart above. Everything still holds accordingly with the fractal.
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We have momentum to start climbing again soon. on 1h the price has been coming down but RSI going up = Divergence. I believe the price was pushed down just to eat away over-leveraged longs once again.
We have momentum to start climbing again soon. on 1h the price has been coming down but RSI going up = Divergence. I believe the price was pushed down just to eat away over-leveraged longs once again.
Commento:
Price jumped just as I thought it would. It squeezed the over-leveraged longs out of the game and now we can start moving higher. Slowly but surely.
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Now Im expecting us to retrace a bit and fool more traders to do hasty choices (but would not surprise me if we continue up straight).
Now Im expecting us to retrace a bit and fool more traders to do hasty choices (but would not surprise me if we continue up straight).
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Following the pattern. This retrace was expected. Lets see what happens.
Following the pattern. This retrace was expected. Lets see what happens.
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Little update, trying to figure out a way to forecast target more easily. Well I got something for you all.
Little update, trying to figure out a way to forecast target more easily. Well I got something for you all.